The used car trade price monitoring and trending tool has found that overall trade values across the market are notably stable and – in some cases – rose during the second half of August thanks to restricted volume coupled with on-going solid retail demand.

However, there are now signs emerging of some downward pressure on late plate values and Black Book Live has identified the most highly prized cars for retail as prime condition older examples, especially around 3-4 years old, which look best value in comparison with newer cars. Here, some trade prices actually increased in the third and fourth weeks of August as used car specialists worked ever harder to meet strong retail demand.

Derren Martin, senior editor of Black Book Live, said: ‘For the first time in recent months, we are seeing 12-month-old values depreciating slightly more than their older counterparts.

‘Although this has been anticipated within the industry and is not unexpected, it was only during August that we saw real evidence of values for late plate cars being more heavily affected than the rest of the age ranges.

‘It is important to note that the additional depreciation is still only at a low level and there is no suggestion that the sky is falling in. However, this is something to keep a close eye on over the coming months. Unsurprisingly, in percentage terms it is the City Car sector that is most affected – a key area for price point advertising and low monthly payments within the new car arena.’

Looking ahead to the coming weeks, Martin describes September as a pivotal month but foresees trade values changing little in the short term.

He said: ‘With the introduction of the new “63” plate there will be more new car registration growth and it will be interesting to see the impact on used car values.

‘Factors that come into play are the likely influx of dealer part exchanges, the attractiveness of new car offers from manufacturers, and the determination of franchised dealers to hit their new targets.

‘Overall it is likely that values will stay steady through the early days of September. Any adverse impact from the increased new car activity is likely to be felt towards the end of the month and into October.’